| ASSET MANAGEMENT
MAINTAINING YOUR MOST VALUABLE ASSET
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arlier this year, the International Organisation for Standardisation (ISO) released a new suite of asset management standards: ISO 55000. This suite can be used to manage any class of asset, from railway sleepers to telecommunications, says the ISO. This suite comprises three standards: 33 ISO 55000: which provides an overview of the subject of asset management, as well as the standard’s terms and definitions that are to be used 33 ISO 55001: an element that explores the requirements specification for an integrated and effective asset management system 33 ISO 55002: which provides facilities managers with the guidelines for the implementations of such an asset management system. This suite of standards will align and integrate with other major management systems to create a streamlined approach to asset management and all aspects of professional operations. ISO 55001 can be applied to any organisation where physical assets are central to their business. This has proven to be very successful, with widespread
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adoption in utilities, transport, mining and manufacturing industries worldwide, and is it primarily intended for use by: 33 those involved in the establishment, implementation, maintenance and improvement of an asset management system 33 those involved in delivering asset management activities and service providers 33 internal and external parties to assess the organisation’s ability to meet legal, regulatory and contractual requirements and the organisation’s own requirements. An asset can be defined as an item, thing or entity that holds value for an organisation; the new standard has removed the restriction of a ‘physical’ asset, meaning that not only can something as tangible as a building be an asset, something more conceptual, like a company’s reputation, can also be an asset. As a facilities manager, the building is your asset. It’s vital to ensure that your facility is maintained to the highest standard in order to minimise any accidents or downtime that could occur as a result of unsatisfactory maintenance operations, and
FACILITY PERSPECTIVES | VOLUME 8 NUMBER 3
to mitigate ageing effects and maximise the sustainability of your building. On top of this, correct asset management will contribute to the value of intangibles, such as brand reputation. Having a comprehensive asset management plan in place helps you, as a facilities manager, to ensure that you are compliant with any regulations and minimum standards, as well as protecting the asset from a financial point of view. Implementing a strategic asset management plan can also facilitate the decision-making process, effectively aiding facilities managers and forming a basis for their decisions. Five benefits of an optimised asset management plan 33 streamlined processes, resources and functional contributions 33 consistent and prioritised risk management 33 improved planning 33 a greater engagement of the work and taskforce 33 the creation of a transparent audit trail to detail what is done, when, how and why.